The FX carry trade looks poised to continue shining in the second half of the year - Goldman Sachs
With so much happening already in markets during the first six months of the year, major currencies have been one of the less exciting spots. Outside of the Japanese yen, volatility among major currencies has been relatively subdued with much of it riding purely on dollar sentime
USD/CAD — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
Citi | Bearish | 1.43 |
MUFG | Bullish | 1.34 |
HSBC | Bullish | 1.36 |
Desk synthesis pending
We’re writing the institutional analysis for this note — multi-section body, firm-by-firm alignment chips, key takeaways, market implications, risks. The synthesizer processes the queue hourly, with priority by citation density.
In the meantime, the most useful reads are the related coverage and primary source below — both reach the same substance from different angles.
Sources & References
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Cross-firm research
USD/JPY Consensus Check: 162.31 Spot vs 149.0 Target, Week of July 14, 2026
USD/JPY trades at 162.31, nearly 9% above the 23-firm Dec-2026 median of 149.0, with a 25-point dispersion exposing deep disagreement on the BoJ-Fed spread.
USD/CAD at 1.4131: Consensus Targets 1.35 but Citi Holds 1.43
USD/CAD trades 4.67% above the 23-firm Dec-26 consensus of 1.35, with a 0.15 dispersion range signalling unusually wide disagreement on BoC-Fed dynamics.
USD/JPY Consensus Check: Spot at 161.71, Median Target 149.0 — Week of July 12, 2026
USD/JPY trades 8.53% above the 23-firm median Dec-26 target of 149.0, with a 25-point dispersion that reflects deep disagreement on the BoJ rate path.